Apex secures $50 million from Prudential Capital

Posted: Friday, February 13, 2015

Apex Clean Energy, an independent renewable energy company, announced today that it has secured $50 million in financing from Prudential Capital Group. The proceeds of the financing will be utilized to advance Apex’s project pipeline, including project development, acquisitions and general corporate purposes.

“We look forward to partnering with Apex. In addition to its strong management team and considerable pipeline, Apex has a compelling project development track record and the resources to expand its platform toward long-term ownership and operation,” said Ric Abel, managing director with Prudential Capital Group.

Mark Goodwin, Apex Clean Energy president, added, “We are very pleased to be entering into this long-term relationship with Prudential Capital Group. As we continue to build out our renewable energy pipeline, this capital will support the investments required to push projects forward across our portfolio.”

According to Goodwin, “We founded Apex in 2009, at a time when financial markets were in turmoil, with private investors who shared our commitment to clean energy. Since then, our investment thesis has not changed: the low cost of clean energy has been the key factor driving growth in the market. This is what has enabled our portfolio to deliver compelling returns and attract top-tier investors like Prudential Capital Group. We also see the intrinsic value of clean energy: our reserves are not subject to depletion, our fuel is delivered to our facilities at no cost, and our power plants do not produce emissions or consume water. The cultivation of energy sources with these attributes will enable a more sustainable energy future and deliver long-term value to our shareholders.”